By now all organisations employing over 250 relevant employees should have published their Gender Pay Gap Reports for 2018. But have these reports told us anything new?
The headline figure is that the median gender pay gap has reduced overall but only very slightly - from 9.7% to 9.6% . More significantly fewer than half of employers have reduced their gap and for many the gap has actually increased. Furthermore 78% of all companies that reported have a gender pay gap in favour of men, compared to only 14% that have a pay gap in favour of women.
Whilst this may be disappointing it is perhaps not surprising as reducing the gap was never going to be a quick fix but do the narrative reports published to support the figures indicate that any new initiatives have been introduced over the last year? Unfortunately not. Most organisations are still placing undue reliance on flexible working in the hope that this will encourage women to keep working for them and many just give excuses rather than action plans. It is clear that a far bolder approach is needed.
There is plenty of advice on how to mend the gap including from ICAEW so let’s hope the Year 3 figures show some (small) steps in the right direction.